Ekiti State Set To Revise And Strengthen Cooperative Laws

Ekiti State Set To Revise And Strengthen Cooperative Laws....KINDLY READ THE FULL STORY HERE▶

The Ekiti State Government is initiating the review of the State Cooperative Law, a regulatory framework governing cooperative societies within the region. Mrs. Omotayo Adeola, the Commissioner for Trade, Industries, Investment, and Cooperatives, conveyed this information during a meeting with representatives of cooperative societies in Ado-Ekiti…….CONTINUE READING

Emphasizing the government’s dedication to formulating policies that bolster the financial stability of cooperative societies, Mrs. Adeola underscored the importance of proper management and sustained financial viability. Recognizing the pivotal role played by these societies in economic development, she announced the government’s intention to inject one billion naira into the cooperative sector, fulfilling a prior commitment.

Mrs. Adeola urged cooperative members to repay their outstanding loans promptly, facilitating broader access to benefits for members of various cooperative societies. She reiterated the administration’s commitment to supporting cooperative societies and assured that the Ministry would provide training for cooperators involved in business enterprises.

Highlighting the importance of collaboration, Mrs. Adeola advised cooperative society leadership to work closely with the ministry’s staff overseeing their operations. She reaffirmed the government’s focused efforts on promoting infrastructure development to attract investors who would drive small and medium enterprises in the state.

Expressing gratitude on behalf of the invited cooperative societies, Mr. Clement Adewumi, the President of the Mother Union of Cooperative Societies in the State Public Service, commended Governor Oyebanji for his endeavors in revitalizing the trade, industry, and cooperative sectors. He acknowledged the governor’s initiatives aimed at improving conditions for cooperators in the state, pledging full support from his union to the Ekiti State Government.

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